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A review of issues in transit economics

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  • Gwilliam, Ken

Abstract

This paper reviews the development of thought on the major issues in transit economics over the last 50 years, in developed and developing countries. Some issues - the analysis of cost and demand parameters - are perennial, with development mostly in the mathematical sophistication of analytical techniques employed, while others - such as issues of ownership and competitive form - reflect wider trends in economic thinking. Some issues - such as the relationship between transit and development - are universal, while others - such as the role of small vehicles and the informal sector - impact mostly on developing countries. One conclusion stands out. Transit is critical to the achievement of a wide range of social, economic and environmental objectives and, therefore, needs appropriate institutions to ensure its integration with the strategic management of the rest of urban development policy.

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  • Gwilliam, Ken, 2008. "A review of issues in transit economics," Research in Transportation Economics, Elsevier, vol. 23(1), pages 4-22, January.
    • Handle: RePEc:eee:retrec:v:23:y:2008:i:1:p:4-22
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